Rende Development Capital funds caterer, tailor and household treatment company
A racial fairness lending firm built loans to yet another team of community businesses owned by entrepreneurs of shade.
Grand Rapids-based mostly Rende Progress Cash mentioned this 7 days that it lent undisclosed quantities to Kentwood-primarily based Applause Catering + Activities, Grandville-centered Lee Tailors and Grand Rapids-centered Taylor’s Residence Care from its RACE4Progress bank loan fund set up to assist business owners of coloration who are economically impacted by COVID-19.
“We at Rende Progress Money (RPC) are pleased that our expanding portfolio at a continue to youthful tenure is expanding with a diversification of business enterprise industries and tales of wonderful business entrepreneurs,” said Eric Foster, co-founder, chair and controlling director of RPC.
Applause Catering + Occasions
Proven in 2012 and now owned by previous personnel David Castro Godoy, Applause Catering + Situations, at 3755 Broadmoor Ave. SE, Suite C, in Kentwood, demonstrated a “need of assistance amid the pandemic, resiliency and pivoting to satisfy the troubles of COVID-19,” in accordance to RPC.
Applause Catering + Activities provides meals containers to company meetings, joyful several hours and family members gatherings, as perfectly as its longtime perform catering lots of West Michigan gatherings, which includes for the Organization Journal.
Castro Godoy stated Applause has “built a robust status in the nearby group as we take your eyesight to the next stage.”
Just one simple fact RPC took into consideration when contemplating Applause’s mortgage software — in addition to company fundamentals and require — was the company’s social obligation and assistance by providing corporations with unused food stuff and its assist of nearby organizations that provide racially assorted/marginalized communities.
The RACE4Progress Personal loan will make it possible for Applause to meet up with hire and payroll obligations.
“We will be relieved to know that we will not be shedding our household enterprise. We want to be right here to provide the community,” Castro Godoy mentioned.
Thien Ly Alterations Inc. (dba Lee Tailors)
Owned by Lee Thien Ly, Lee Tailors was founded in 2003 and is at 3700 Rivertown Pkwy., Suite 1156, in Grandville.
The small business shown a need for assistance and perseverance by COVID-19, RPC said.
Lee Tailors gives dry cleansing, tailoring, alterations, upholstery, leatherwork and embroidery providers. Lee Tailors also presents cost-free prices.
Since the pandemic, the business enterprise has seasoned several difficulties, according to its proprietor.
“This (personal loan) will help toward payroll and overhead expenditures to (retain) us in business,” Ly stated.
Taylor’s Home Treatment LLC
Owned by Thurman Taylor, Taylor’s Dwelling Treatment was founded in 2015 and is at 1505 Morewood Push SE in Grand Rapids and also features services at deal web sites.
Taylor’s Residence Treatment provides senior citizens within and outdoors of Grand Rapids with assisted living and treatment companies. The business enterprise focuses on keeping seniors impartial and active in a safe and sound, pleasant and dwelling-like placing by way of services together with nonmedical guidance within one or extra functions of daily residing, foods, housekeeping, facilities and transportation.
“It’s a cozy spot for progress,” Taylor stated.
The enterprise has continued its dedication to seniors and disabled men and women though going through new fees involved with the COVID-19 pandemic, according to RPC.
The additional expenditures for personal protecting gear vital to maintain staff members and people protected, payroll obligations and incentives/resources for staff members to continue care for susceptible senior citizen consumers and caregiver aid are generating unbudgeted prices, Taylor mentioned.
“Having a system for unexpected costs will correctly advantage my enterprise these days and into the long term,” Taylor explained.